Bitcoin Price up as Futures Head to Exchanges
NEW YORK, December 5, 2017 /PRNewswire/ --
Bitcoin price traded higher last week as U.S. regulators said it will allow bitcoin futures trading on exchanges. According to industry website Coindesk, the price of bitcoin rose past $10,000 for the first time last Tuesday and topped $11,000 Wednesday. CME Group Inc., the world's biggest exchange owner, announced that it will offer futures contracts on December 18. The announcement came after the Commodity Futures Trading Commission said it will allow CME and the CBOE Futures Exchange to launch bitcoin futures products. Other institutions also show interests in the cryptocurrency market. Nasdaq Inc. plans to introduce bitcoin futures as early as the second quarter next year, according to Bloomberg, citing a source with knowledge of the matter. Glance Technologies Inc. (OTC: GLNNF), Bitcoin Services, Inc. (OTC: BTSC), BTCS Inc. (OTC: BTCS), Global Arena Holding, Inc. (OTC: GAHC), Singlepoint, Inc. (OTC: SING).
Bitcoin, the world's largest cryptocurrency by market capitalization, surged over 1,000 percent this year. It now has a market value of as much as 190 billion, according to Coinmarketcap. "Bitcoin, a virtual currency, is a commodity unlike any the Commission has dealt with in the past," CFTC Chairman J. Christopher Giancarlo said in a statement. "As a result, we have had extensive discussions with the exchanges regarding the proposed contracts, and CME, CFE and Cantor have agreed to significant enhancements to protect customers and maintain orderly markets."
Glance Technologies Inc. (OTCQB: GLNNF) also listed on the Canadian Stock Exchange under the Ticker 'GET', just announced breaking news this morning that announces an update to its overall blockchain and cryptocurrency strategy. This announcement comes on the back of Glance's November 29, 2017 news of its non-binding letter of intent to acquire the Blockimpact end-to-end cryptocurrency blockchain solution from Ztudium Ltd. On completion of the proposed acquisition of Blockimpact, Glance intends to leverage Ztudium's experience and expertise in the crypto space as consultants to promote Glance's token with their extensive international network of blockchain and crypto influencers, traders, and exchanges. Dinis Guarda, #4 blockchain influencer and CEO of Ztudium and Lifesci has already joined Glance's board of advisors. On the successful conclusion of an agreement to acquire Blockchain from Ztudium, Dinis and Ztudium will advise on strategy, domestic and international regulatory and compliance elements as Glance growth plan comprehends a new reward token may be launched in major metropolitan centers such as Vancouver, Toronto, Los Angeles, San Francisco, Las Vegas, New York, Miami, London, Paris, Berlin, Dubai, Hong Kong Tokyo and Singapore. Glance looks forward to issuing a further release providing an update on its proposed advisory engagement of Dinis and Ztudium on reaching a binding agreement for the acquisition of Blockimpact.
Glance intends to use a Glance Pay rewards system that will provide a token acting as a medium of exchange on a decentralized market for users and merchants that can buy and sell products and reward merchants and get points. With this instead of notional point, users will be able to purchase or sell Glance rewards tokens on an in-app exchange. This will allow the direct conversion of points to fiat currencies like USD and Euros as well as other cryptocurrencies like Bitcoin. This will provide Glance Pay users much more freedom in paying and receiving cryptos and international currencies. To better utilize the benefits of smart contracts, Glance intends to build smart contracts such that they can be used by other organizations like merchants and restaurants to provide rewards as cryptocurrency.
Glance is expecting there to be two main types of users. One type of user will be the experienced cryptocurrency user, who wants to improve their way of spending cryptocurrency with merchants in person and online. The other, and more common user, will want to use their phone to pay for goods and services and doesn't know much about cryptocurrency. Glance's rewards tokens will be many people's first exposure to owning, storing and spending a cryptocurrency.
Glance is engaging Dinis Guarda and Glance's fintech and blockchain advisors to help complete a study and whitepaper further outlining its distributed ledger and token strategy. Furthermore, upon completion of the Blockimpact acquisition, Glance will have the technological and legal and expertise to execute initial coin offerings for other companies on an ongoing basis. Glance is currently initiating conversations with several companies to provide consulting services for a range of crypto and blockchain solutions.
Bitcoin Services, Inc. (OTC: BTSC) operates two distinct segments. Bitcoin mining - the means by which new Bitcoin is brought into circulation, the total of which is to be capped at 21 million BTC. Blockchain Software Development - Bitcoin Blockchain is the technology backbone of the network and provides a tamper-proof data structure, providing a shared public ledger.
BTCS Inc. (OTCQB: BTCS) announced earlier in October that it has received a total of $1.1 million from the sale of its Series C -1 Convertible Preferred Stock (the 'C-1') and Warrants. On October 10, 2017, the Company closed on the initial $100,000 of a $1 million minimum financing which included $250,000 in bitcoin paid directly to BTCS and $750,000 in cash. The Escrow Agent was permitted to release $100,000 to BTCS which allowed BTCS to pay its auditors, a valuation consultant, an accounting advisory firm and counsel so it could file its Form 10-Q for the six months ended June 30, 2017. The Form 10-Q was filed on October 24th after which the Escrow Agent paid BTCS the $650,000 held in escrow as well as an additional $100,000 paid by a new investor.
Global Arena Holding, Inc. (OTC: GAHC) incorporated GAHI Acquisition Corp. to be the merger subsidiary for the acquisition of Blockchain Technologies Corporation ('BTC'). Currently, GAHC and BTC have entered into an acquisition arrangement where BTC will merge with GAHI Acquisition Corp. GAHC has commenced a tenable accumulation of up to 30% of BTC in this initial transaction and are working quickly to acquire more. BTC is a technology company which leverages the underlying crypto technology of Bitcoin (Blockchain), acting as a seed accelerator.
Singlepoint, Inc. (OTC: SING) announced recently that together with AppSwarm, Inc, a technology company specializing in the accelerated development and publishing of mobile apps, it will conduct a shared roll-out of mobile applications specifically geared to solve issues in the cannabis space using the Blockchain technology and Bitcoin payment options. "This JV with SinglePoint allows them unfettered access to all of the technology we currently have in-house, as well as what we are and will be developing in the near future. With the Crypto space expanding at mind-boggling speed it only makes sense to be partnering with such a prestigious industry leader in SinglePoint," stated AppSwarm CEO Ron Brewer.
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